Buying sailboat company for a bargain price

$85,000 is enough to buy a nice boat. Steve Brodie used that much money to buy an entire sailboat company.

The News & Observer features a story on the new owner of Pacific Seacraft and how he bought an entire boat company for a modest price.

According to the News & Observer….

Brodie spent $85,000 at the auction to buy the company name, boat molds, tools and five sailboat hulls.

The sailboats, which measure 31 feet to 44 feet, cost $250,000 to $1 million each. The company also makes a 38-foot trawler.

“He got a darn good deal,” said Mike Bradley, who leads the state’s effort to recruit boat makers. “It’s a darn good situation.”

Pacific Sailboats once produced over 140 employees building about 120 boats a year. The relaunched company will start with a much smaller staff, around 12 employees. Brodie hopes the company will grow quickly to employ many more workers.